Microsoft seeks EU approval for LinkedIn buy
A 3D printed logo of Microsoft is seen in front of a displayed LinkedIn logo in this illustration taken June 13, 2016. REUTERS/Dado Ruvic/Illustration
Get Alerts MSFT Hot Sheet
Overall Analyst Rating:
BUY ( Up)
Dividend Yield: 0.8%
Revenue Growth %: +15.0%
Join SI Premium – FREE
FLORENCE, Italy (Reuters) - Microsoft (NASDAQ: MSFT) sought EU antitrust approval on Friday for its $26 billion bid for social network LinkedIn, a spokesman said on Friday, kicking off a month-long review by regulators of its largest deal.
"We filed today," company spokesman Robin Koch said.
He said the European Commission has set a Nov. 22 deadline to examine the case. The EU competition authority can either clear the deal with or without concessions or it can open a lengthy investigation if it has serious concerns.
U.S. software company Salesforce has criticized the takeover, saying it threatens innovation and competition.
Microsoft is expected to say that there is more than enough competition from Facebook (NASDAQ: FB) and social networks on smartphones.
Antitrust regulators in the United States, Canada and Brazil have already cleared the deal.
(Reporting by Foo Yun Chee; Editing by Adrian Croft)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Microsoft's (MSFT) OpenAI Partnership Could Face EU Antitrust Investigation, Sources Say - Reuters
- ContextLogic (WISH) Receives Stockholder Approval of Transaction with Qoo10
- Sekisui House Completes Acquisition of M.D.C. Holdings (MDC)
Create E-mail Alert Related Categories
Litigation, Mergers and Acquisitions, ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!